Sherwood, Inc., had the following current assets and current liabilities at the end of two recent years: Year 2(in millions)Year 1(in millions)Cash and cash equivalents$4,165 $4,528 Short-term investments, at cost2,958 8,408 Accounts and notes receivable, net9,404 8,624 Inventories1,771 787 Prepaid expenses and other current assets590 291 Short-term obligations (liabilities)315 3,342 Accounts payable and other current liabilities7,453 6,813 a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Year 2Year 1Current ratiofill in the blank 1fill in the blank 2Quick ratiofill in the blank 3fill in the blank 4

Name: Sherwood, Inc., had the following current assets and current liabiliti
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Description: Sherwood, Inc., had the following current assets and current liabilities at the end of two recent years: Year 2(in millions)Year 1(in millions)Cash and cash equivalents$4,165 $4,528 Short-term investments, at cost2,958 8,408 Accounts and notes receiv

Current Ratio is the ratio of current assets to current liabilities. Liquid ratio is the ratio of…

Answered: Prepaid expenses and other current…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 3SEB

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Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectively
Statement of Cash Flows The following are Mueller Companys cash flow activities: a. Net income, 68,000 b. Increase in accounts receivable, 4,400 c. Receipt from sale of common stock, 12,300 d. Depreciation expense, 11,300 e. Dividends paid, 24,500 f. Payment for purchase of building, 65,000 g. Bond discount amortization, 2,700 h. Receipt from sale of long-term investments at cost, 10,600 i. Payment for purchase of equipment, 8,000 j. Receipt from sale of preferred stock, 20,000 k. Increase in income taxes payable, 3,500 l. Payment for purchase of land, 9,700 m. Decrease in accounts payable, 2,900 n. Increase in inventories, 10,300 o. Beginning cash balance, 18,000 Required: Prepare Mueller Company's statement of cash flows.
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.

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	Year 2 (in millions)	Year 1 (in millions)
Cash and cash equivalents	$4,165		$4,528
Short-term investments, at cost	2,958		8,408
Accounts and notes receivable, net	9,404		8,624
Inventories	1,771		787
Prepaid expenses and other current assets	590		291
Short-term obligations (liabilities)	315		3,342
Accounts payable and other current liabilities	7,453		6,813

	Year 2	Year 1
Current ratio	fill in the blank 1	fill in the blank 2
Quick ratio	fill in the blank 3	fill in the blank 4